The saga of Woodstock 50 Festival continues today with promoter Michael Lang denying the reported cancellation of the Aug. 16-18 event, and explicitly stating “there is going to be a Woodstock 50th Anniversary Festival, as there must be, and it’s going to be a blast!”

Woodstock 50 seemed to have reached its end on Monday, April 29, as the event’s main investor – Dentsu Aegis Network – “we don’t believe the production of the festival can be executed as an event worthy of the Woodstock Brand name while also ensuring the health and safety of the artists, partners and attendees.”

And while the company explicitly stated that they “decided to cancel the festival,” promoter Michael Lang explained that new partners are being brought on board to fund the three-day festival.

This is the latest of many speed-bumps Woodstock 50 has encountered, from the cancellation of headliner The Black Keys, to an ongoing delay on ticket sales to scaled-down attendance numbers.

Scheduled performers for Woodstock 50 include Dead & Company, Santana, The Killers, Jay-Z, Chance the Rapper, Miley Cyrus and many more. It is set to take place at Watkins Glen International Speedway in Watkins Glen, NY, which was the same site of Phish’s ill-fated Curveball Festival last summer.

Currently, tickets for Woodstock 50 remain unavailable.

Read Lang’s full statement below:

We are committed to ensuring that the 50th anniversary of Woodstock is marked with a festival deserving of its iconic name and place in American history and culture. Although our financial partner is withdrawing, we will of course be continuing with the planning of the festival and intend to bring on new partners. We would like to acknowledge the State of New York and Schuyler County for all of their hard work and support. The bottom line is, there is going to be a Woodstock 50th Anniversary Festival, as there must be, and it’s going to be a blast!